Not A Crypto Investor, US Presidential Candidate Robert F. Kennedy Jr. Admits To Owning Bitcoin Worth IDR 3.7 Billion

The candidate for President of the United States from the Democratic Party, Robert F. Kennedy Jr. (photo: Twitter @RobertKennedyJr).

JAKARTA - The candidate for President of the United States from the Democratic Party, Robert F. Kennedy Jr., admits that he owns Bitcoin worth up to USD 250,000 (IDR 3.7 billion). This is certainly in contrast to previous claims that he is not an investor in the cryptocurrency.

Records obtained by CNBC show that Kennedy Jr. had Bitcoin worth between 100,001 and 250,000 US dollars by the end of June. The investment comes after his speech at the Bitcoin 2023 conference in May, in which he announced that his campaign would be the first to receive Bitcoin donations in the United States.

During the conference, the candidate also denied investing in Bitcoin. "I'm not an investor, and I'm not here to provide investment advice," he was quoted as saying by Cointelegraph.

The financial statement filed on June 30 did not explain when this cryptocurrency was purchased, only stating that its value has fallen less than US$201 since the investment was made. The statement did not indicate who purchased the asset, although the candidate's campaign acknowledged it was Kennedy Jr.

Kennedy Jr., who is a challenger to US President Joe Biden in the Democratic Party, has been targeting the crypto community in his campaign. In his tweet on May 3, he stated that "cryptocurrencies, led by Bitcoin, along with other crypto technologies, are huge innovation machines," adding that it was a mistake for the United States government "to hinder this industry and encourage innovation elsewhere."

Among the wealthy supporters he has are Twitter founder and CEO of The Block, Jack Dorsey, who recently provided support to the candidate. "He can and will," Dorsey wrote on Twitter about the candidate's strategy to beat his opponents in the upcoming fight.

Kennedy Jr. is the son of former Attorney General and Senator Robert F. Kennedy, as well as the nephew of the 35th President of the United States, John F. Kennedy. His support comes at a crucial time for the American crypto industry, with the Securities and Exchange Commission (SEC) taking action against the crypto business amid the absence of an appropriate regulatory framework for digital assets in the United States.